| 1 | 1 | | By: Villarreal (Senate Sponsor - Carona) H.B. No. 1721 |
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| 2 | 2 | | (In the Senate - Received from the House April 15, 2013; |
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| 3 | 3 | | May 7, 2013, read first time and referred to Committee on Business |
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| 4 | 4 | | and Commerce; May 16, 2013, reported favorably by the following |
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| 5 | 5 | | vote: Yeas 7, Nays 0; May 16, 2013, sent to printer.) |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | A BILL TO BE ENTITLED |
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| 9 | 9 | | AN ACT |
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| 10 | 10 | | relating to use of the Nationwide Mortgage Licensing System and |
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| 11 | 11 | | Registry in connection with the regulatory authority of the |
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| 12 | 12 | | consumer credit commissioner; affecting fees. |
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| 13 | 13 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 14 | 14 | | SECTION 1. Subchapter C, Chapter 14, Finance Code, is |
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| 15 | 15 | | amended by adding Section 14.109 to read as follows: |
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| 16 | 16 | | Sec. 14.109. USE OF THE NATIONWIDE MORTGAGE LICENSING |
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| 17 | 17 | | SYSTEM AND REGISTRY. (a) In this section, "Nationwide Mortgage |
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| 18 | 18 | | Licensing System and Registry" or "nationwide registry" means a |
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| 19 | 19 | | licensing system developed and maintained by the Conference of |
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| 20 | 20 | | State Bank Supervisors and an affiliated organization to manage |
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| 21 | 21 | | mortgage licenses and other financial services licenses or a |
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| 22 | 22 | | successor registry. |
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| 23 | 23 | | (b) This section applies only to: |
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| 24 | 24 | | (1) this chapter; and |
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| 25 | 25 | | (2) Chapter 342, 348, 351, 393, or 394. |
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| 26 | 26 | | (c) The commissioner may require that a person submit |
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| 27 | 27 | | through the Nationwide Mortgage Licensing System and Registry in |
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| 28 | 28 | | the form and manner prescribed by the commissioner and acceptable |
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| 29 | 29 | | to the registry any information or document or payment of a fee |
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| 30 | 30 | | required to be submitted to the commissioner under: |
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| 31 | 31 | | (1) a chapter to which this section applies; or |
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| 32 | 32 | | (2) rules adopted under the chapter. |
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| 33 | 33 | | (d) The commissioner may use the nationwide registry as a |
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| 34 | 34 | | channeling agent for obtaining information required for licensing |
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| 35 | 35 | | or registration purposes under a chapter listed in Subsection |
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| 36 | 36 | | (b)(2) or rules adopted under the chapter, including: |
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| 37 | 37 | | (1) criminal history record information from the |
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| 38 | 38 | | Federal Bureau of Investigation, the United States Department of |
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| 39 | 39 | | Justice, or any other agency or entity at the commissioner's |
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| 40 | 40 | | discretion; |
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| 41 | 41 | | (2) information related to any administrative, civil, |
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| 42 | 42 | | or criminal findings by a governmental jurisdiction; and |
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| 43 | 43 | | (3) information requested by the commissioner |
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| 44 | 44 | | under Section 342.101(a)(4), 348.502(a)(3), 351.101(a)(4), |
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| 45 | 45 | | 393.604(a)(5), or 394.204(c)(8). |
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| 46 | 46 | | SECTION 2. This Act takes effect September 1, 2013. |
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| 47 | 47 | | * * * * * |
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